Sunday, January 11, 2015

Greg Mankiw - The New Economics of the Left


Greg Mankiw notices Bernie Sander's appoint of Stephanie Kelton as Senate Budget Committee (minority) chief economist and the rise of "heterodox economic theory."

Greg Mankiw
The New Economics of the Left

6 comments:

mike norman said...

Sanders' hiring of Kelton was a stroke of genius. It's huge.

Ryan Harris said...

Yes. The orthodox will be alarmed their stranglehold on government is breaking. They'll attack.

Tom Hickey said...

Yes. The orthodox will be alarmed their stranglehold on government is breaking. They'll attack.

And these smirking guys haven't learned yet not to mess around with women because there aren't many in economics. I surmise they think she's a pushover to attack — like Joan Robinson was, as Samuelson and Solow found out.

Tyler Healey said...

And Stephanie, Pavlina, and Yves would bury Mankiw.

circuit said...

Tom, I agree with you that no one will mess around with Kelton. But Solow's late wife Barbara was a fantastic and highly respected economist. I doubt Solow thought anything less of Robinson because she was a woman. I think participants in the Cambridge debates knew everyone involved were first rate thinkers.

It'll be really great to see Kelton's ideas get discussed

Tom Hickey said...

I didn't mean to suggest that either Paul Samuelson or Robert Solow underestimated Joan Robinson's abilities as an economist, only that they met their match (and then some). After all, she was at Cambridge.

I doubt that Greg Mankiw et al look at Stephanie Kelton or any of the MMT economists in the same light, or UMKC, for that matter.